Dollar Declines on Goods, Housing Reports

The dollar fell against the euro on Wednesday on reports of lower durable goods sales and falling housing prices.

Sales of goods meant to last more than three years fell 1.7 percent in February compared to a 4.7 fall in February, the Commerce Department said.

Meanwhile, a report from the same agency indicated that new home sales slipped 1.8 percent to its lowest point in 13 years.

The new reports sent the dollar lower to $1.5763 per euro at 12:50 p.m. in New York compared to $1.5613 late yesterday. The dollar traded at 99.29 yen from 100.16 yen. The pound was at $2.0036 compared to $2.0012. The dollar dipped to 0.9953 Swiss francs compared to 1.0080 Swiss francs.

The Euro also rose as the business climate index from the German Ifo Institute rose to 104.8 for March, slightly higher than the previous month. It beat expectations of a decline.